HOUSTON, JULY 2 - Activity in the U.S. oil and gas

sector in Texas, Louisiana and New Mexico contracted slightly in

the second quarter of 2025, the Dallas Fed survey showed on

Wednesday.

Oil and gas production decreased slightly.

Meanwhile, costs among oilfield service firms rose at a

slightly faster pace in the second quarter compared with the

first quarter, the survey showed.

Companies expected a West Texas Intermediate oil price of

$68 a barrel at year-end 2025, and a Henry Hub natural gas price

of $3.66 per million British Thermal units.